Slide 1: Executing on Our Transformation to Drive Stockholder Value
Executing on Our Transformation to Drive Stockholder Value OCTOBER 2023
Slide 2: What Is This Proxy Contest About?
What Is This Proxy Contest About? This proxy contest is about whether half of the independent directors of LifeVantage – nearly all of the Board’s leadership – should be replaced despite the Board’s proactive reformation of the Company’s management team and strategy that has led LifeVantage to be on
Slide 3: Table of Contents
Table of Contents I Executive Summary 4 II LifeVantage Has Transformed Its Business and Strategy 13 III LifeVantage’s New Strategy Is Driving Growth and Value 26 IV LifeVantage Has the Right Board to Oversee Its Strategy 31 V The Radoff-Sudbury Group’s Campaign Is Misguided 35 VI Conclusion 59 VII A
Slide 4: Executive Summary
SECTION I Executive Summary 4 INVESTOR PRESENTATION
Slide 5: Executive Summary
Executive Summary In 2020, LifeVantage’s business was The Board took decisive action to rebuild The Company deliberately and in trouble because of changes the leadership team, develop a new systematically strengthened the accelerated by the pandemic strategic plan and strengthen the Board business i
Slide 6: Executive Summary (Continued)
Executive Summary (Continued) Since the launch of the LV360 strategy, The Radoff-Sudbury Group candidates Stockholders should support the LifeVantage has delivered strong do not bring needed skills, and the incumbent Board, new leadership team performance removal of the targeted directors will and r
Slide 7: Overview of LifeVantage (Nasdaq: LFVN)
Overview of LifeVantage (Nasdaq: LFVN) ▪ We are world leaders in using nutrigenomics to activate a healthy body, mind, and mood with science-backed products that include unique combinations of naturally occurring compounds ▪ We activate financial, social, and community wellness by using a direct sel
Slide 8: We Have Repositioned the Company
We Have Repositioned the Company The Board has guided the rebuilding of our leadership team and repositioning and transformation of our business since 2020 2020 2021 2022 2023 ▪ The Board determined the ▪ Performed full organizational and ▪ Internal kick-off of LV360 strategy ▪ Declared $0.40/share
Slide 9: Our New Plan Has Driven Outperformance
Our New Plan Has Driven Outperformance We believe that our improved relative total shareholder return (“TSR”) reflects our progress under our rebuilt leadership team and new LV360 strategy TSR SI NCE ANNO UNCEM ENT O F LV360 STRATEG Y 1 1- YEAR TSR 1 Russell 2000 (4%) Russell 2000 5% Nasdaq Composit
Slide 10: The Radoff-Sudbury Group Has Not Offered Any Meaningful Ideas to Drive Value
The Radoff-Sudbury Group Has Not Offered Any Meaningful Ideas to Drive Value Principal ideas offered by the Radoff-Sudbury Group: STRATEG Y CAPI TAL ALLO CATI O N O PERATI O NS BO ARD & G O VERNANCE ▪ NOTHING ▪ The Company should not ▪ NOTHING ▪ Every member of the Audit have sponsored a Major Commi
Slide 11: The Radoff-Sudbury Group's Nominees Will Not Add Value
The Radoff-Sudbury Group’s Nominees Will Not Add Value Dayton Judd Michael Lohner Bradley Radoff Managing Member, Sudbury President, Lohner Private Investor Capital Management, LLC Investments, LLC Chair and CEO of a public company that A direct selling company he led as CEO Has a troubling tr
Slide 12: Stockholders Should Support LifeVantage's Board of Directors
Stockholders Should Support LifeVantage’s Board of Directors OUR BOARD IS BEST POSITIONED OUR BOARD HAS DRIVEN CHANGE TO CONTINUE EXECUTING OUR STRATEGY ▪ Since the pandemic, we significantly transformed the business, ▪ The Board is comprised of seven engaged directors with an starting with a new CE
Slide 13: LifeVantage Has Transformed Its Business and Strategy
SECTION II LifeVantage Has Transformed Its Business and Strategy 13 INVESTOR PRESENTATION
Slide 14: Positive Trends Were Shaping Our Industry, but We Were Not Well-Positioned to Succeed
Positive Trends Were Shaping Our Industry, but We Were Not Well-Positioned to Succeed M AJO R TRENDS LEG ACY LI FEVANTAG E CHALLENG ES The COVID-19 pandemic accelerated a shift from physical retail sales to e- Our e-commerce site was not optimized to support increased E-commerce commerce, providing
Slide 15: The Board Executed a Deliberate Transformation Process
The Board Executed a Deliberate Transformation Process September 2020 to June 2022 A Management rebuild April 2021 to January 2023 B Developed and tested new strategy January 2023 to Present C Implemented LV360 2020 2021 2022 2023 ACTI O NS RESULTS Rebuilt the Management Team A The entire senior lea
Slide 16: We Have Rebuilt Our Management Team
A We Have Rebuilt Our Management Team In September 2020, in recognition of rapidly changing industry dynamics, we began a full rebuild of our management team to elevate talent and bring in new perspectives AUG UST 2020 TO DAY Steven Fife Carl Aure Alissa Neufeld Darren Jensen Steven Fife Kevin McMur
Slide 17: We Now Have the Right Leadership Team
A We Now Have the Right Leadership Team Steve Carl Michelle Alissa Fife Aure Oborn Neufeld APPOINTED JOINED APPOINTED JOINED 09.03.20201 10.26.2021 AUGUST 20222 03.31.2021 PRESIDENT, CEO & DIRECTOR CHIEF FINANCIAL OFFICER CHIEF PEOPLE OFFICER GENERAL COUNSEL Joined LifeVantage as Chief Financial Off
Slide 18: The Board Oversaw Our Strategic Repositioning
B The Board Oversaw Our Strategic Repositioning At an April 2021 strategy session, the Board approved a set of “Wildly Important Goals” (WIGs) to reposition the business, laying the foundation for what would become the LV360 initiative EXCERPTS FRO M VARI O US BO ARD PRESENTATI O NS ( APR 2021 – JAN
Slide 19: The Board Provided Rigorous Oversight
B The Board Provided Rigorous Oversight The Board directed management to develop a plan to transform the Company’s business and strategy and provided rigorous oversight in its implementation BO ARD ACTI O NS The Board directed management to study e-commerce trends and develop a more unified user exp
Slide 20: The Board's Action Led to a Repositioned Business
B The Board’s Action Led to a Repositioned Business LEG ACY LI FEVANTAG E CHALLENG ES LI FEVANTAG E’ S NEW APPRO ACH Our e-commerce site was not optimized to support increased purchasing Improved our website experience with new functionality and E-commerce driven by the pandemic or promote subscript
Slide 21: After 18 Months of Development, We Launched LV360
C After 18 Months of Development, We Launched LV360 21 INVESTOR PRESENTATION
Slide 22: The Six Components of Our LV360 Plan
The Six Components of Our LV360 Plan ▪ Focus on science-based products with demonstrable, clinically-proven benefits 1 Product ▪ Target strong, growing verticals (anti-aging, wellness and beauty) with products that are market- driven and made for social selling 2 Social ▪ Leverage social media to at
Slide 23: The LV360 Plan Has Been Well Received
The LV360 Plan Has Been Well Received You have evolved the business – The new [LV360] initiatives will the compensation plan and all the serve as a blueprint for a more key aspects of the business - … modernized direct-selling industry.”2 to a transformational level.”1 INVESTOR PRESENTATION 1. Sourc
Slide 24: Our Consultants Support Our Progress
Our Consultants Support Our Progress Partnering with LifeVantage has created opportunities for us My team and I are responsible for over $50 million in volume and our family that we would never have thought possible. annually. I am a strong believer in our CEO Steve Fife and We have met personally w
Slide 25: Our Consultants Value Our Board and Care About Continuity
Our Consultants Value Our Board and Care About Continuity Our consultants care about the Board and the continuity the Board provides during this period of significant transformation Salt Lake City 2021 ▪ For the last three years, members of the Board have attended a panel discussion at our annual co
Slide 26: LifeVantage's New Strategy Is Driving Growth and Value
SECTION III LifeVantage’s New Strategy Is Driving Growth and Value 26 INVESTOR PRESENTATION
Slide 27: Our New Strategy Has Driven Outperformance and Multiple Expansion
Our New Strategy Has Driven Outperformance and Multiple Expansion The market has reacted positively to our strong results under our new LV360 strategy, and we have been rewarded with a higher valuation multiple TSR SI NCE ANNO UNCEM ENT O F O UR LV360 STRATEG Y 1 EV/ LTM EBI TDA 1 120% 8.8x Q4 2023
Slide 28: Recent Results Demonstrate Our Successful Transformation
Recent Results Demonstrate Our Successful Transformation We ended FY 2023 with positive momentum and a clear path to achieving sustainable, profitable growth NET REVENUE ( $M ) 1 ADJUSTED EBI TDA ( $M ) 1 ADJUSTED EBI TDA M ARG I N 1 $4.8 $54.2 8.9% $53.7 $53.7 $3.3 6.1% $0.8 1.5% Q2 2023 Q3 2023 Q4
Slide 29: We Expect Our Momentum to Continue
We Expect Our Momentum to Continue We are expecting further revenue and Adjusted EBITDA growth in FY 2024 as we continue to realize the benefits of our transformation NET REVENUE ( $M ) 1 ADJUSTED EBI TDA ( $M ) 1 Includes LV360 launch costs of ~$2 million $16 - 18 $216 - 226 $213 $206 $13 $12 FY 20
Slide 30: We Are on the Path to Achieving Our Long-Term Targets
We Are on the Path to Achieving Our Long-Term Targets We ended FY 2023 with positive momentum, and we have a new strategy and a clear plan to achieve our long-term targets G RO SS M ARG I N 1 ADJUSTED EBI TDA M ARG I N 1 G AAP O PERATI NG M ARG I N 1 82.0% 79.7% 79.6% 12.0% 8.9% 9.0% 5.5% 4.8% 2.0%
Slide 31: LifeVantage Has the Right Board to Oversee Its Strategy
SECTION IV LifeVantage Has the Right Board to Oversee Its Strategy 31 INVESTOR PRESENTATION
Slide 32: Our Board Is Highly Experienced
Our Board Is Highly Experienced Garry Mauro (Chair) Michael Beindorff Erin Brockovich Joined 2008 – Nom/Gov, Audit Joined 2012 – Audit, Compensation (C) Joined 2019 – Nom/Gov ▪ Managing Partner at Mauro, Archer, ▪ Held senior advertising/marketing ▪ Health, wellness and environmental O’Neill roles a
Slide 33: Our Board Has the Right Skills to Oversee Our Strategy
Our Board Has the Rights Skills to Oversee Our Strategy Michael Erin Steven Raymond Cynthia Darwin Garry Beindorff Brockovich Fife Greer Latham Lewis Mauro TOTAL C-Suite Leadership ✓ ✓ ✓ ✓ ✓ 5 of 7 Nominees Finance/Capital Markets ✓ ✓ ✓ ✓ ✓ 5 of 7 Nominees Multilevel Marketing/ Direct Sales ✓ ✓ 2 of
Slide 34: Our Governance Supports Effective Oversight
Our Governance Supports Effective Oversight DIVERSE, EXPERIENCED ACCOUNTABILITY TO ALIGNMENT AND INDEPENDENT BOARD STOCKHOLDERS WITH STOCKHOLDERS ▪ Directors have deep executive-level ▪ Annual election of all directors ▪ Stock ownership guidelines for experience in direct sales, branding, promotes a
Slide 35: The Radoff-Sudbury Group's Campaign Is Misguided
SECTION V The Radoff-Sudbury Group’s Campaign Is Misguided 35 INVESTOR PRESENTATION
Slide 36: The Radoff-Sudbury Group's Campaign is Misguided
The Radoff-Sudbury Group’s Campaign is Misguided Despite our attempts to engage constructively, the Radoff-Sudbury Group is pressing forward with its costly and disruptive proxy contest ▪ We have engaged ▪ In over two years of ▪ Now, the Radoff-Sudbury ▪ We have sought to interview constructively wi
Slide 37: We Have Engaged with Radoff and Judd
We Have Engaged with Radoff and Judd We have been engaging with Brad Radoff and Dayton Judd for over two years; it was only recently that they formed a group and demanded changes Jun. 11, 2021 Jun. 2022 – Sep. 2022 Dec. 2022 – May 2023 May 15, 2023 Aug. 9, 2023 Mr. Fife has an Members of the Board a
Slide 38: The Activists' Claims Are Unfounded
The Activists’ Claims Are Unfounded Principal ideas offered by the Radoff-Sudbury Group: STRATEG Y CAPI TAL ALLO CATI O N O PERATI O NS BO ARD & G O VERNANCE ▪ NOTHING 1▪ The Company should not ▪ NOTHING 3▪ Every member of the Audit have sponsored a Major Committee should be League Soccer team repla
Slide 39: Our Major League Soccer Sponsorship is Valuable
1 Our Major League Soccer Sponsorship is Valuable The annualized cost of LifeVantage’s ANNUALI ZED CO ST O F M AI N SHI RT SPO NSO RSHI P ( $M ) 1 sponsorship deal with Real Salt Lake (“RSL”) is currently the lowest in Major League Soccer $7 $7 ▪ Our relationship with RSL has helped drive customer a
Slide 40: Our Office Lease Is Market-Priced
2 Our Office Lease Is Market-Priced Our new office space, which we opened in RENT PER SQ UARE FO O T 1 2021, is an important part of our strategy; the space was specifically designed to support the development of our consultants $29.21 $30.05 $29.94 $28.97 and their businesses ▪ There are dedicated
Slide 41: Radoff-Sudbury's Criticisms of Our Audit Committee Are Misguided
3 Radoff-Sudbury’s Criticisms of Our Audit Committee Are Misguided ▪ The Radoff-Sudbury Group’s campaign seeks to remove all CO M PANI ES W I TH A CPA AS AUDI T CO M M I TTEE CHAI R 1 three members of our Audit Committee, which we believe would be disruptive to any business but particularly one in t
Slide 42: Our Rights Plan Protects Stockholder Interests
4 Our Rights Plan Protects Stockholder Interests The Board adopted a Rights Plan to protect stockholders after Bradley Radoff and Sudbury Capital had formed a group that was close to achieving effective voting control ▪ On August 11, Bradley Radoff and Sudbury Capital filed a Joint Filing % O F SHAR
Slide 43: Radoff-Sudbury's Campaign Risks Displacing Key Board Experience
Radoff-Sudbury’s Campaign Risks Displacing Key Board Experience ▪ Mr. Beindorff joined the Board in 2012 ▪ He is one of the Board’s foremost marketing experts, with experience leading U.S. Marketing and Global Advertising at The Coca-Cola Company and Serving as EVP of Marketing, Operations and Produ
Slide 44: Radoff-Sudbury's Campaign Risks Displacing Key Board Experience (Continued)
Radoff-Sudbury’s Campaign Risks Displacing Key Board Experience (Continued) ▪ Mr. Lewis joined the Board in 2017 ▪ He is the Chair of the Audit Committee and qualifies as an “audit committee financial expert” under SEC rules ▪ Prior to his retirement in 2018, Mr. Lewis spent nearly 40 years at multi
Slide 45: Radoff-Sudbury's Campaign Risks Displacing Key Board Experience (Continued)
Radoff-Sudbury’s Campaign Risks Displacing Key Board Experience (Continued) ▪ Mr. Mauro joined the Board in 2008; he was initially elected Chair at the end of 2009 before stepping down in January 2012; he was elected Chair again in November 2013 ▪ As Chair, Mr. Mauro focuses the Board’s discussion o
Slide 46: The Radoff-Sudbury Group's Candidates Are Not Additive to the Board
The Radoff-Sudbury Group’s Candidates Are Not Additive to the Board CO NCERNS KEY Q UESTI O NS ▪ Has been responsible for significant financial oversight failures as CEO of FitLife Brands, including financial restatements, material weaknesses in ▪ How can Mr. Judd claim that his “audit [and] corpora
Slide 47: Dayton Judd is Responsible for Financial Oversight Failures
Dayton Judd is Responsible for Financial Oversight Failures ▪ Dayton Judd has served as CEO of FitLife DAYTO N JUDD’ S LETTER TO FI TLI FE BRANDS STO CKHO LDERS 1 Brands since June 2017 ▪ Since that time, the company has dealt with a “On April 1, 2022, the Company announced that it was unable to fil
Slide 48: Dayton Judd is Responsible for Financial Oversight Failures (Continued)
Dayton Judd is Responsible for Financial Oversight Failures (Continued) Mr. Judd’s tenure as CEO of FitLife has been marred by a litany of financial restatements, material weaknesses in internal controls and auditor dismissals Period Ending Form Restated? Material Weakness Identified? Auditor Change
Slide 49: Dayton Judd's Other Commitments Raise Concerns
Dayton Judd’s Other Commitments Raise Concerns ▪ Mr. Judd is committed to multiple executive and board-level % O F RUSSELL 3000 CEO S SERVI NG O N O THER BO ARDS 2 responsibilities1 – Chair and CEO, FitLife Brands (Nasdaq: FTLF) 3% – Director and Chair of Audit Committee, Optex Systems Holdings (Nas
Slide 50: Michael Lohner's Tenure as CEO of Another Direct Selling Company was Unimpressive
Michael Lohner’s Tenure as CEO of Another Direct Selling Company was Unimpressive Mr. Lohner was seemingly unable to address the challenges at another direct selling company, Home Interiors & Gifts ▪ Michael Lohner previously served in a variety of senior HO M E I NTERI O RS & G I FTS O PERATI NG I
Slide 51: Michael Lohner Appears to Have Repeatedly Misrepresented His Credentials
Michael Lohner Appears to Have Repeatedly Misrepresented His Credentials Mr. Lohner appears to have misrepresented his background to make his experience seem more impressive How Mr. Lohner Characterizes His How Home Interiors How Mr. Lohner Characterizes His How Mr. Lohner Previously Tenure at Home
Slide 52: Bradley Radoff's Rhetoric Does Not Match His Actions
Bradley Radoff’s Rhetoric Does Not Match His Actions ▪ At Acacia Research, Mr. Radoff accused the incumbent directors of self-dealing and improper fidicuary actions; Mr. Radoff nominated and supported the election of Clifford Press; Mr. Press, who became CEO of Acacia, was later accused of improperl
Slide 53: Bradley Radoff's Rhetoric Does Not Match His Actions (Continued)
Bradley Radoff’s Rhetoric Does Not Match His Actions (Continued) Boards on Which Mr. Radoff Served Mr. Radoff’s criticisms of our governance are disingenuous and belied by his own track Mr. Radoff Served on record Nom/Gov Committee? ✓ ✓ ✓ ✓ ✓ ▪ While the Radoff-Sudbury Stockholders Can Act by
Slide 54: Bradley Radoff is a Large Owner of a Competitive Business
Bradley Radoff is a Large Owner of a Competitive Business ▪ Mr. Radoff owns approximately 19% of Primary Key Guardion Health LifeVantage Guardion Health Sciences, a science-based Benefit Ingredients Product Product nutrition and dietary supplements company ▪ Guardion’s Viactiv brand provides product
Slide 55: The Radoff-Sudbury Group's Other Claims Are Misleading
The Radoff-Sudbury Group’s Other Claims Are Misleading RADO FF - SUDBUR Y G RO UP’ S M I SLEADI NG CLAI M LI FEVANTAG E’ S RESPO NSE ▪ During Mr. Mauro’s tenure on the Board, LifeVantage has delivered a total shareholder return of 328%, handily exceeding the Russell 2000 (153%) and “[There has been
Slide 56: The Radoff-Sudbury Group's Other Claims Are Misleading (Continued)
The Radoff-Sudbury Group’s Other Claims Are Misleading (Continued) RADO FF - SUDBUR Y G RO UP’ S M I SLEADI NG CLAI M LI FEVANTAG E’ S RESPO NSE ▪ We gave proper notice of the original September 15 record date ▪ When we needed to amend it to allow for more time to prepare our proxy materials, we gav
Slide 57: The Radoff-Sudbury Group's Other Claims Are Misleading (Continued)
The Radoff-Sudbury Group’s Other Claims Are Misleading (Continued) RADO FF - SUDBUR Y G RO UP’ S M I SLEADI NG CLAI M LI FEVANTAG E’ S RESPO NSE ▪ LifeVantage hired Gig Economy Group (“GEG”) to assist in developing new digital apps to improve the LifeVantage business ▪ GEG was run by one of our then
Slide 58: The Radoff-Sudbury Group's Other Claims Are Misleading (Continued)
The Radoff-Sudbury Group’s Other Claims Are Misleading (Continued) RADO FF - SUDBUR Y GROUP’ S M I SLEADI NG CLAI M LI FEVANTAGE’ S RESPONSE ▪ The Board recognized in 2020 that the number of “consultants” was not sustainable and would likely decline rapidly unless the Company changed its strategy ▪
Slide 59: Conclusion
SECTION VI Conclusion 59 INVESTOR PRESENTATION
Slide 60: LifeVantage Stockholders Should Support the Board's Nominees
LifeVantage Stockholders Should Support the Board’s Nominees LifeVantage has a Clear Our Rebuilt Leadership Team The Radoff-Sudbury Group’s and Compelling Strategy has been Executing Well Campaign is Misguided and Risks to Drive Value on our LV360 Strategy Disrupting Our Progress ▪ The Board recogni
Slide 61: Please Vote the WHITE Card FOR LifeVantage's Director Candidates
Please Vote the WHITE Card FOR LifeVantage’s Director Candidates We strongly urge stockholders to vote the WHITE proxy card for our highly qualified and experienced nominees and WITHHOLD on the Radoff-Sudbury Group’s candidates to support the continued execution of our LV360 strategy that is deliver
Slide 62: Appendix: Director Biographies
SECTION VII Appendix: Director Biographies 62 INVESTOR PRESENTATION
Slide 63: Director Biographies
Director Biographies CURRENT & PAST AFFI LI ATI O NS EXPERI ENCE ▪ Broad range of legal, political, management, operations, leadership and oversight experience in the private and public sector with valuable institutional knowledge ▪ Managing Partner of Mauro, Archer and Associates LLC (2015–Present)
Slide 64: Director Biographies (Continued)
Director Biographies (Continued) CURRENT & PAST AFFI LI ATI O NS EXPERI ENCE ▪ Award-winning advocate for health, wellness and environmental initiatives with decades of legal and business experience ▪ President of legal and environmental consulting firm Brockovich Research & Consulting (1996– Presen
Slide 65: Director Biographies (Continued)
Director Biographies (Continued) CURRENT & PAST AFFI LI ATI O NS EXPERI ENCE ▪ Expert in international logistics, supply chain management, and technology with extensive operating and leadership experience ▪ Operating Partner for private equity firm Welsh Carson Anderson & Stowe (2022–Present) ▪ CEO
Slide 66: Director Biographies (Continued)
Director Biographies (Continued) CURRENT & PAST AFFI LI ATI O NS EXPERI ENCE ▪ Extensive experience managing sales and international operations during a nearly 40-year career at consumer packaged goods company SC Johnson ▪ Proven track record of corporate leadership and marketing expertise ▪ Positio
Slide 67: Appendix: Overview of Our LV360 Plan
SECTION VII Appendix: Overview of Our LV360 Plan 67 INVESTOR PRESENTATION
Slide 68: Strategic Initiatives Built a Foundation for Growth
Strategic Initiatives Built a Foundation for Growth Product Launches and Platform Enhancements lay the groundwork for the launch of the LV360 initiative FEB New Product Launch – Daily Wellness, a powdered drink mix supplement for immune health JUN New Product Launch – CBD-enhanced Nrf2 Personal Care
Slide 69: The Six Components of Our LV360 Plan
The Six Components of Our LV360 Plan ▪ Focus on science-based products with demonstrable, clinically-proven benefits 1 Product ▪ Target strong, growing verticals (anti-aging, wellness and beauty) with products that are market- driven and made for social selling 2 Social ▪ Leverage social media to at
Slide 70: Product
1 Product Attract and retain new consumers with modern branding and exciting products that fit current industry trends, meet a true health need, and are socially shareable HI G HLI G HTS ▪ TrueScience® Liquid Collagen activates, replenishes, and maintains collagen to deliver visible results that dri
Slide 71: Social
2 Social Inspire a growing, engaged social community that encourages wellness enthusiasts to continuously feel better, fuel their purpose, and celebrate what it means to live activated. LifeVantage shares performance- driven digital content that creates conversations and attracts and delights consum
Slide 72: Compensation
3 Compensation Modernized Evolve Compensation Plan helps new consultants earn faster, rewards them for any way they want to work, and gives them the flexibility to earn only on sales to customers or also through building a team of consultants HI G HLI G HTS ▪ Fully redesigned Evolve Compensation Pla
Slide 73: Consumer Experience
4 Consumer Experience Build trust, create positive experiences, and provide compelling motivators for placing repeat orders HI G HLI G HTS ▪ Created LifeVantage® Rewards Circle loyalty program in which customers can earn credits to use for future orders when they order products on subscription and a
Slide 74: Digital
5 Digital Create a connected, digital-first culture to enhance customer relationships and support the consultant experience HI G HLI G HTS ▪ Improved website experience and Shop by Solution functionality ▪ Streamlined subscription and order management ▪ Enhanced global LifeVantage App to help consul
Slide 75: One LifeVantage Community
6 One LifeVantage Community Grow the community of those positively impacted by LifeVantage through entering new markets and leaving a legacy of a better world for all HI GHLI GHTS ▪ Opened Philippines market in fiscal 2022, quickly grew to one of the largest markets. ▪ Focused on benchmarking and cr
Slide 76: We Address Key Product Categories in Attractive Markets
We Address Key Product Categories in Attractive Markets We target the two largest product categories – wellness and cosmetics – and have a presence in some of the largest direct selling markets % O F DI RECT SELLI NG REVENUE BY CATEG O RY 1 TO P 10 DI RECT SELLI NG M ARKETS BY REVENUE ( $M ) 1 Welln
Slide 77: Appendix: Channel Peer Group and Total Shareholder Returns
SECTION VII Appendix: Channel Peer Group and Total Shareholder Returns 77 INVESTOR PRESENTATION
Slide 78: Channel Peer Group
Channel Peer Group LifeVantage compares its performance against a peer group of publicly traded direct selling companies that deliver nutritional/dietary supplement products. The peer group consists of: Herbalife Ltd., Nu Skin We believe that these companies – with which we compete for Enterprises,
Slide 79: Our Returns Have Generally Exceeded or Been In-Line with Our Channel Peers
Our Returns Have Generally Exceeded or Been In-Line with Our Channel Peers TSR SI NCE LV360 ANNO UNCEM ENT 1 1- YEAR TSR 1 108% 108% 100% 71% (0%) (4%) (17%) (42%) (35%) (54%) (46%) (61%) LFVN NATR USNA HLF MTEX NUS LFVN NATR USNA HLF NUS MTEX 3- YEAR TSR 1 5- YEAR TSR 1 114% 39% (29%) (33%) (24%) (
Slide 80: LifeVantage Has Outperformed Our Channel Peers During The Tenures of Mr. Mauro and Mr. Lewis
LifeVantage Has Outperformed Our Channel Peers During The Tenures of Mr. Mauro and Mr. Lewis TSR DURI NG G ARRY M AURO ’ S TSR DURI NG M I CHAEL BEI NDO RFF’ S TSR DURI NG DARW I N LEW I S’ TENURE 1 TENURE 1 TENURE 1 1400% 200% 200% 1200% 150% 150% 1000% 100% 100% 800% 53% 600% 50% 50% 400% 18% 328%
Slide 81: Our Financial Performance Has Been the Key Driver of Our Shareholder Returns
Our Financial Performance Has Been the Key Driver of Our Shareholder Returns O NE- DAY TO TAL SHAREHO LDER RETURN 1 30% 25% 20% 15% 10% 5% 0% (5%) Sudbury Capital 13D LV360 Announcement Q3 2023 Earnings Radoff 13D Radoff-Sudbury Nominations Q4 2023 Earnings (Sep. 6, 2022) (Jan. 19, 2023) (May 4, 202
Slide 82: Appendix: Non-GAAP Reconciliations
SECTION VII Appendix: Non-GAAP Reconciliations 82 INVESTOR PRESENTATION
Slide 83: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Three Months Ended Fiscal Year Ended (In thousands) June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 June 30, 2023 June 30, 2022 GAAP Net Income (loss) $ 1,966 $ 1,022 $ (1,058) $ 610 $ (1,416) $ 2,540 $ 3,120 Interest (income) expense
Slide 84: Appendix: Important Information
SECTION VII Appendix: Important Information 84 INVESTOR PRESENTATION
Slide 85: Important Information
Important Information The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s stockholders in connection with its upcoming fiscal year 2024 Annual Meeting of Stockholders (the “Annual Meeting”). The Company filed its definit
Slide 86: Cautionary Statements
Cautionary Statements Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointm